Wednesday, May 11, 2011

Developers Doing A Dump in Mandurah

Port Bouvard offering 3.99% Interest Rates!!

40% Discounts & 3.99% Interest Rates Fixed for 4 Years !! Panic has set in & the Dumping has begun in Perth / Mandurah. 

Pressure is now on for others Developers to match the offer.

Late 2010 Port Bouvard were offering their $1mill Dollar plus Apts at discounts of 40% to shift stocks that were no longer selling.

After 3 Months of Full Page Adverts in All weekend Papers / TV Mags / 150+ TV Commercial spots they were only able to shift 4 Aparts.

So now they are offering buyers Fixed interest rates of 3.99% for 4 years. This is  on top of the Discounted Prices so effectively this is a further discount of 16% 

How happy would you be signing up in 2007 $1-$ 3 million for a Beach Side Luxury Apt on a Golf Course to see it's prices SLASHED 56% by the developer.

Industry sources say there are 13 Apts for sale in this complex from people who bought thinking they could FLIP it at a profit when the project was complete?

Now these SPECULATORS are going to get burnt because they are now competing with the developers who sold them this junk in the first place!!!

And they say you can never go wrong buying "QUALITY" !!!

Yeah Right!

Interesting that the Developers are using tricks like "Interest Rebates" to hide the fact that they are slashing prices & are Desperate.

Developers are not fools they are not in the business of throwing money away they are doing these deals now because they know it is only going to get worse.
My Sources tell me if this fails to shift stock they plan to offer "INTEREST FREE" for 5 years if you put a 50% deposit down.

(Have a look at the Link & Advert) 

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